**REGISTERED COMPANY NUMBER: 01524865 (England and Wales) REGISTERED CHARITY NUMBER: 281566** ## **Report of the Trustees and** ## **Unaudited Financial Statements** **for the Year Ended 31st August 2025** ## **for** ## **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** Attenboroughs (Accountants) Limited Chartered Certified Accountants 1 Tower House Tower Centre Hoddesdon Hertfordshire EN11 8UR **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Contents of the Financial Statements for the year ended 31st August 2025** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|6| |**Independent Examiner's Report**||7|| |**Statement of Financial Activities**||8|| |**Balance Sheet**|9|to|10| |**Cash Flow Statement**||11|| |**Notes to the Cash Flow Statement**||12|| |**Notes to the Financial Statements**|13|to|20| |**Detailed Statement of Financial Activities**|21|to|22| **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Report of the Trustees for the year ended 31st August 2025** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objectives of the school as set out in the Charity's Objects are enhanced by the activities carried out in the School. Our aim is to maintain and enhance the academic success of the School and the first-class pastoral care provided for our pupils. The objectives of the school are further explained in the prospectus, the website and written within the Staff Handbook and Charity Memorandum and Articles, they include; o Fostering the spiritual, intellectual, physical and emotional development of each person within the community of the School; o Offering a balanced curriculum which can fulfil the entitlement of each pupil; o Creating a dynamic partnership between home, school and the wider community; o Actively supporting the local and worldwide community o Continuing the planned professional development for teaching and non-teaching staff. Our key objectives for the year included: o Continuing to strengthen the English and Mathematics curricula and broadening enrichment provision; o Strengthening governance, safeguarding, curriculum quality and wider operational standards across the School; o Expanding our Early Years offer with the launch of two-year-old provision; o Growing the school roll through improved admissions, marketing and parent engagement; o Increasing the range of clubs, trips and extra-curricular opportunities for pupils. ## **Strategic Priorities: Commitment to Excellence** The trustees recognise that the independent school sector is operating in an increasingly challenging economic and regulatory environment. In this context, the trustees believe that the School must continue to distinguish itself through high standards, strong pupil outcomes, excellent pastoral care, and a broad educational experience. Accordingly, during the year the trustees placed particular focus on academic attainment, consistency in teaching standards, enrichment opportunities, leadership development, and strengthening the overall parent and pupil experience. The trustees remain committed to ensuring that the School continues to deliver a high-quality educational experience and clear long-term value for families under its care. Page 1 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Report of the Trustees for the year ended 31st August 2025** ## **OBJECTIVES AND ACTIVITIES** ## **Public benefit** In shaping the objectives for the year and planning the School's activities, the trustees have considered the Charity Commission's guidance on public benefit, including Public benefit: running a charity (PB2), particularly its supplementary guidance on advancing education and fee charging. The School continues to offer academic scholarships and, in exceptional cases, limited one-off financial support where appropriate. The trustees recognise that some academically able children from the state sector may particularly benefit from the School's educational environment and opportunities but may not otherwise have access to them without support. The School is committed to delivering public benefit in line with its charitable purpose. While financial support is primarily focused on merit-based scholarships, limited one-off hardship support may occasionally be provided at the discretion of the Governing Body. ## **Ethos, Strategy and Policies** Vita et Pax Preparatory School is a co-educational school for children from age two to the end of their primary education. The School aims to provide a safe, caring and ambitious environment where every child is known, supported and encouraged to do their best. We are truly child centered. From the first day a child enters our School to the day they leave us at the end of Year 6, every member of the Vita et Pax community works together around that individual child's growth, confidence and success. Our approach is simple: children should feel safe, happy and confident, while being challenged to achieve strong academic progress. We work closely with parents because children do best when home and school move in the same direction. Safeguarding, welfare and personal development sit at the centre of school life. We want pupils to grow as kind, confident and responsible young people, not only as successful learners. The School is committed to respect, dignity and inclusion. Pupils from different backgrounds, cultures and faith traditions learn together in a supportive community. Every child should have a fair opportunity to grow, contribute and succeed. Our curriculum is broad and balanced, with a clear focus on strong foundations in English, Mathematics and wider learning. We also place importance on music, sport, art, trips, clubs and other enrichment opportunities, so that pupils develop confidence, interests and character. Prospective pupils are welcomed from all backgrounds. As part of the admissions process, children normally spend time with the class they wish to join so that the School can understand their suitability, needs and potential before admission. The trustees act as stewards of the School. They oversee finances, premises, staffing and long-term development. All income is applied for educational purposes. The trustees continue to invest in teaching, facilities, technology and the wider learning environment. The trustees' aim is to maintain high academic standards, strengthen preparation for secondary school and ensure that pupils leave Vita et Pax ready for the next stage of their education. ## **STRATEGIC REPORT** ## **Achievements and performance Investment performance** The School's surplus funds are invested in bank and other deposits. Income from these deposits has continued to track Bank of England base rates and the wider economic climate. Page 2 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Report of the Trustees for the year ended 31st August 2025** ## **STRATEGIC REPORT Financial review Reserves policy** The trustees' reserves policy is to maintain reserves at a level between 50% and 70% of annual income. The trustees recognise that reserves remain below this target range. This reflects the School's recent investment in premises, IT, staffing, leadership capacity and operational improvement. These investments were made deliberately to strengthen the School and support its long-term sustainability. The trustees believe that improved admissions, expanded provision, tighter financial controls and a growing school roll should allow reserves to rebuild over the medium term. Future reserves will be used to support the School's development, including investment in facilities, educational provision and, where appropriate, the potential acquisition of additional premises. ## **Achievements and performance** During the year, the School continued to make progress across teaching, pastoral care, admissions, enrichment and operational management. The trustees are pleased with the stronger stability in leadership, the broader range of pupil opportunities, the continued investment in the learning environment and the improvement in parent engagement. These developments have supported both pupil experience and the School's wider sustainability. The trustees are also very pleased with the continued strong performance of pupils in securing secondary school places, including offers from leading grammar schools and highly regarded independent schools. This reflects the hard work of pupils and their families, the commitment of teachers, and the School's continued focus on strong academic foundations, preparation and parental partnership. ## **Growth Trajectory** The 2025-26 academic year has been a year of strong and measurable growth for Vita et Pax Preparatory School. During the 2025-26 academic year, the School had approximately 110 children on roll, with the School growing by approximately 20% year-on-year. At a time when the independent school sector, and particularly the primary and preparatory segment, has faced falling pupil numbers and increased cost pressure, Vita et Pax has moved in the opposite direction. The trustees believe this makes Vita et Pax a distinctive positive growth story among independent preparatory schools. More importantly, this growth reflects the confidence of parents, the commitment of staff and teachers, and the School's renewed focus on standards, care and educational value. Forward-looking admissions momentum has also continued to improve, with growing interest from prospective families and strong support from the wider parent community. As demand has increased, the School has become more selective in making admission offers, with continued focus on admitting pupils and families who are well suited to the School's ethos, standards and expectations. Page 3 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Report of the Trustees for the year ended 31st August 2025** ## **STRATEGIC REPORT Financial review Review of Activities and Achievements** ## **Staffing** - Teaching Staff 11 - Support Staff 6 - Administration 1 - Caretaker 3 - Cleaning 1 ## **Summary** Vita et Pax Preparatory School is building clear and sustained momentum. A settled Headmaster, stronger staff team, wider enrichment programme and growing roll all show the impact of the improvements made over the past two years. Building on this progress, the School is taking forward the launch of two-year-old provision within Little Vitas and the ongoing completion plan for the Astroturf and outdoor facilities. The trustees thank our staff and teachers for their commitment, hard work and care for the children. We also thank our parents for their continued trust, support and belief in the School. Our ambition remains simple: to give each child and family the best possible care, education and support. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is a company limited by guarantee, as defined by the Companies Act 2006. . Its governing documents include its Memorandum and Articles of Association and deed of trust. ## **Directors and Trustees** The Board looks to appoint Trustees with a diversity of skills to create a balanced group. Potential Trustees are interviewed by the Chair and other Trustees to determine their commitment and integrity. On joining a skills audit is undertaken, and appropriate training is given, usually through AGBIS, in order that it remains relevant to the independent sector. All Directors of the Company are also Trustees of the Charity, and there are no other Trustees. The Board of Directors has the power to appoint additional Trustees as it considers fit to do so. Trustees during the year: P Acharya (Chairman - appointed 25 June 2024, continuing) M Poullos (appointed 25 June 2024, continuing) A Punpale (appointed 25 June 2024, continuing) N Kallis (appointed 25 June 2024, continuing) S Mishra (appointed 3 September 2024, continuing) A Westcott (resigned 3 September 2024) A Jemal (resigned 3 September 2024) A Howell (resigned 3 September 2024) K Jeyarajah (resigned 3 September 2024) All the trustees give their time freely and no remuneration or expenses were paid in the year. Provision for training is arranged and paid for by the school. Page 4 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Report of the Trustees for the year ended 31st August 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Risk management** The trustees continue to keep the School's activities under review, particularly in regard to any risk that may arise from time to time. They monitor the effectiveness of internal controls and other viable means, including insurance cover where appropriate, by which risks identified can be mitigated. The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. Key risks identified and actively mitigated in the period were: o Embedding new senior leadership and ensuring continuity of strong day-to-day school management; o Continued strengthening of financial controls, invoicing accuracy and aged-debt management; o Maintaining strong compliance across safeguarding, health and safety, educational standards and wider regulatory obligations; o Safeguarding governance, including ongoing maintenance of the Single Central Record and term-by-term safeguarding reporting to the Safeguarding Governor; o Roll resilience through a broader admissions funnel, two-year-old provision and improved parent engagement. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 01524865 (England and Wales) ## **Registered Charity number** 281566 ## **Registered office** 6a Priory Close Green Road Southgate London N14 4AT ## **Trustees** Dr A Howell Lawyer (resigned 12/9/2024) A Jemal School Principal (resigned 12/9/2024) Ms K Jeyarajah Doctor (resigned 12/9/2024) Mrs. A Westcott Ceo (resigned 12/9/2024) P Acharya Trader S Mishra VP Business/Banking (appointed 3/9/2024) A Punpale Ms N Kallis Ms M Poullos ## **Independent Examiner** Attenboroughs (Accountants) Limited Chartered Certified Accountants 1 Tower House Tower Centre Hoddesdon Hertfordshire EN11 8UR Page 5 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Report of the Trustees for the year ended 31st August 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS Solicitors** Stone King LLP 13 Queen Square Bath BA1 2HJ ## **Bankers** National Westminster Bank Plc 12 The Broadway, Southgate, London, N14 6QF ## **Pension Schemes** Teachers' Pensions Mowden Hall Darlington DL3 9EE ## **Insurance Brokers** Marsh Ltd - Education Practice Capital House 1-5 Perrymount Road Haywards Heath West Sussex RH16 3SY Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 29th May 2026 and signed on the board's behalf by: P Acharya - Trustee Page 6 **Independent Examiner's Report to the Trustees of Vita Et Pax School (Cockfosters) Limited** ## **Independent examiner's report to the trustees of Vita Et Pax School (Cockfosters) Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2025. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Nikki Drake FCCA The Association of Chartered Certified Accountants Attenboroughs (Accountants) Limited Chartered Certified Accountants 1 Tower House Tower Centre Hoddesdon Hertfordshire EN11 8UR 29th May 2026 Page 7 ## **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31st August 2025** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
School
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31/8/25
Unrestricted
funds
£
95,667
873,759
2,654
972,080
-
1,466,153
1,466,153
(494,073)
255,283
(238,790)|31/8/24
Total
funds
£
1,008
1,145,244
16,756
1,163,008
17,348
1,472,952
1,490,300
(327,292)
582,575
255,283| |---|---|---| The notes form part of these financial statements Page 8 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Balance Sheet 31st August 2025** |31/8/25
Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
12
166,762
**CURRENT ASSETS**
Debtors
13
46,677
Cash at bank and in hand
251,140
297,817
**CREDITORS**
Amounts falling due within one year
14
(645,690)
**NET CURRENT ASSETS/(LIABILITIES)**
(347,873)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
(181,111)
**CREDITORS**
Amounts falling due after more than one year
15
(57,679)
**NET ASSETS**
(238,790)
**FUNDS**
17
Unrestricted funds
(238,790)
**TOTAL FUNDS**
(238,790)|31/8/24
Total
funds
£
238,184
240,015
205,169
445,184
(327,990)
117,194
355,378
(100,095)
255,283
255,283
255,283| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The financial statements were approved by the Board of Trustees and authorised for issue on 29th May 2026 and were signed on its behalf by: The notes form part of these financial statements continued... Page 9 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** **Balance Sheet - continued 31st August 2025** P Acharya - Trustee The notes form part of these financial statements Page 10 ## **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Cash Flow Statement for the year ended 31st August 2025** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
**Cash flows from financing activities**
New loans in year
Net cash provided by financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31/8/25
£
(198,758)
(198,758)
(7,925)
2,654
(5,271)
250,000
250,000
45,971
205,169
251,140|31/8/24
£
(293,513)
(293,513)
-
16,756
16,756
-
-
(276,757)
481,926
205,169| |---|---|---| The notes form part of these financial statements Page 11 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Cash Flow Statement for the year ended 31st August 2025** ## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash used in operations**|31/8/25
£
(494,073)
79,347
(2,654)
193,338
25,284
(198,758)|31/8/24
£
(327,292)
77,366
(16,756)
(21,004)
(5,827)
(293,513)| |---|---|---| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** ||At 1/9/24|Cash flow|At 31/8/25| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cash at bank and in hand|205,169|45,971|251,140| ||205,169|45,971|251,140| |**Debt**|||| |Debts falling due within 1 year|-|(250,000)|(250,000)| ||-|(250,000)|(250,000)| |**Total**|205,169|(204,029)|1,140| The notes form part of these financial statements Page 12 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements for the year ended 31st August 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** Fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the school. Donations received for the general purposes of the school are included as unrestricted funds. Donations restricted by the wishes of the donor or the terms of an appeal are taken to restricted funds. Donations required to be retained as capital in accordance with the donor's wishes are accounted for as endowments - permanent or expendable according to the nature of the-restriction. ## **Expenditure** Expenditure is allocated to expense headings, which aggregate all costs relating to the category either on a direct cost basis, or apportioned according to time spent. The irrecoverable element of VAT is shown separately in the detailed statement of financial activities. All costs associated with the provision of education are allocated to Charitable Expenditure. Only the costs directly associated with, or incurred solely in, Raising Funds are allocated to this category. For example, the costs of kitchen and domestic staff who are employed on a short term basis during the school holidays are allocated to the Cost of Raising Funds whereas the costs of the permanent staff are allocated to Charitable Expenditure because they would have to be paid in any event. Likewise, only premises costs that are incurred because of, or to support, the letting activities are allocated to the Costs of Raising Funds. Governance costs comprise the costs of running the Trust, including strategic planning for its future development, external audit, and all other costs of complying with constitutional and statutory requirements. ## **Tangible fixed assets** All fixed assets are used in direct furtherance of the school's objectives. Fixed assets are included in these financial statements at their original cost less depreciation and accumulated impairment losses provided to date. A capitlaisation policy of £2,500 is in place. Improvements to Leasehold Premises - Amortised annually based on 20 years lease Improvements to Leasehold Premises (post 31/08/2017) - Amortised based on remaining life of lease Fixtures and equipment - 25% on cost (straight line) ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 13 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements - continued for the year ended 31st August 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension costs and other post-retirement benefits** Full-time and part-time teaching staff employed under a contract of service are eligible to contribute to the Teachers' Pension Scheme (TPS). The TPS, a statutory, contributory, final salary scheme is administered by Capita Teachers' Pensions on behalf of the Department for Education and Skills. Costs include normal and supplementary contributions. The regular cost is the normal contribution, expressed as a percentage of salary of a teacher newly entering service, which would defray the cost of benefits payable in respect of that service. Variations from the regular pension cost are met by a supplementary contribution. This occurs if, as a result of the actuarial investigation, it is found that the accumulated liabilities for benefits to past and present teachers are not fully covered by normal contributions to be paid in the future and by the fund built up from past contributions. The normal and supplementary contributions are charged to the income and expenditure account in the year. The school also pays contributions into a Group Personal Pension Scheme for Support staff. The Scheme is a defined contribution pension scheme. The assets of the Scheme are held separately from those of the School in an independently administered fund. The Pension Scheme charge represents contributions payable by the school in accordance with the rules of the Scheme. ## **2. DONATIONS AND LEGACIES** ## **3.** |Donations
**OTHER TRADING ACTIVITIES**
School Fees
Registration fees
Early years funding
Other income
SEND funding
School dinner charges|31/8/25
£
95,667
31/8/25
£
652,309
4,647
117,114
11,356
42,284
46,049
873,759|31/8/24
£
1,008
31/8/24
£
942,871
2,025
124,305
7,062
68,981
-| |---|---|---| |||1,145,244| continued... Page 14 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements - continued for the year ended 31st August 2025** |**4.**
**INVESTMENT INCOME**
Interest receivable - trading
**5.**
**RAISING FUNDS**
**Other trading activities**
Bad debts
**6.**
**CHARITABLE ACTIVITIES COSTS**
School
**7.**
**SUPPORT COSTS**
Management
£
School
621,990
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Auditors' remuneration for non audit work
Depreciation - owned assets
Other operating leases||Direct
Costs
£
742,619
Finance
£
3,451|31/8/25
£
2,654
31/8/25
£
-
Support
costs (see
note 7)
£
723,534
Governance
costs
£
98,093
31/8/25
£
6,369
12,000
79,347
1,320|31/8/24
£
16,756
31/8/24
£
17,348
Totals
£
1,466,153|31/8/24
£
16,756
31/8/24
£
17,348
Totals
£
1,466,153| |---|---|---|---|---|---| ||||||Totals
£
723,534| ||||||31/8/24
£
7,277
6,000
77,366
7,050| ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31st August 2025 nor for the year ended 31st August 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st August 2025 nor for the year ended 31st August 2024. Page 15 continued... **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements - continued for the year ended 31st August 2025** ## **10. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Teachers
Classroom Assistants
Administrative
Caretaker/Catering
Cleaners
No employees received emoluments in excess of £60,000.
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
School
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31/8/25
£
634,984
56,322
77,541
768,847
31/8/25
11
5
1
4
1
22|31/8/24
£
630,384
58,248
114,682
803,314
31/8/24
11
6
1
3
1
22
Unrestricted
funds
£
1,008
1,145,244
16,756
1,163,008
17,348
1,472,952
1,490,300
(327,292)
582,575
255,283| |---|---|---| Page 16 continued... **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements - continued for the year ended 31st August 2025** ## **12. TANGIBLE FIXED ASSETS** |Improvements
to
property
£
**COST**
At 1st September 2024
1,448,874
Additions
-
At 31st August 2025
1,448,874
**DEPRECIATION**
At 1st September 2024
1,210,690
Charge for year
77,366
At 31st August 2025
1,288,056
**NET BOOK VALUE**
At 31st August 2025
160,818
At 31st August 2024
238,184
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments and accrued income
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other loans (see note 16)
Trade creditors
Social security and other taxes
Other creditors
Deferred income
Accrued expenses||Fixtures
and
fittings
£
309,844
7,925
317,769
309,844
1,981
311,825
5,944
-
31/8/25
£
27,944
12,500
6,233
-
46,677
31/8/25
£
250,000
200,879
8,533
46,002
134,276
6,000
645,690|Totals
£
1,758,718
7,925|Totals
£
1,758,718
7,925| |---|---|---|---|---| ||||1,766,643|| ||||1,520,534
79,347|| ||||1,599,881|| |||||166,762| |||||238,184| |||||31/8/24
£
179,893
-
-
60,122| |||||240,015| |||||31/8/24
£
-
46,034
6,929
29,335
233,692
12,000| |||||327,990| continued... Page 17 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements - continued for the year ended 31st August 2025** ## **15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** |Other creditors over one year
**16.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
**17.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**||At 1/9/24
£
255,283
255,283
Incoming
resources
£
972,080
972,080
At 1/9/23
£
582,575
582,575|31/8/25
£
57,679
31/8/25
£
250,000
Net
movement
in funds
£
(494,073)
(494,073)
Resources
expended
£
(1,466,153 )
(1,466,153 )
Net
movement
in funds
£
(327,292)
(327,292)|31/8/24
£
100,095
31/8/24
£
-
At
31/8/25
£
(238,790)
(238,790)
Movement
in funds
£
(494,073)
(494,073)
At
31/8/24
£
255,283
255,283| |---|---|---|---|---| |||||| |||||| continued... Page 18 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements - continued for the year ended 31st August 2025** ## **17. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
1,163,008
1,163,008|Resources
expended
£
(1,490,300 )
(1,490,300 )|Movement
in funds
£
(327,292)
(327,292)| |---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/9/23
£
582,575
582,575|Net
movement
in funds
£
(821,365)
(821,365)|At
31/8/25
£
(238,790)
(238,790)| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
2,135,088
2,135,088|Resources
expended
£
(2,956,453 )
(2,956,453 )|Movement
in funds
£
(821,365)
(821,365)| |---|---|---|---| ## **18. EMPLOYEE BENEFIT OBLIGATIONS** The School participates in the Teachers' Pension Scheme ('the TPS') for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £89,257 (2024: £101,104). The TPS is an unfunded multi-employer defined benefits pension scheme governed by The ,Teachers' Pensions Regulations 2010 (as amended) and The Teachers' Pension Scheme Regulations 2014 (as amended). Members contribute on a "pay as you go" basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%. continued... Page 19 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Notes to the Financial Statements - continued for the year ended 31st August 2025** ## **18. EMPLOYEE BENEFIT OBLIGATIONS - continued** The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the 'Mccloud/Sargeant case'. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers' Pensions. On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal's judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court's decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. A consultation was launched by the government on 16 July 2020, and closed to responses on 11 October 2020. The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal's ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020 and the government is preparing to complete the cost control element of the 2016 valuations, which is expected to be completed in 2021. In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation. Until the consultation and the cost cap mechanism review are completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements. ## **19. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st August 2025. Page 20 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Detailed Statement of Financial Activities for the year ended 31st August 2025** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
School Fees
Registration fees
Early years funding
Other income
SEND funding
School dinner charges
**Investment income**
Interest receivable - trading
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bad debts
**Charitable activities**
Teachers wages
Teachers social security
Teachers pensions
Other operating leases
Insurance
Telephone
Postage and stationery
Advertising
Subscriptions
Staff travel & welfare
IT Support
Website
Recruitment costs
Other admin costs
Teaching other
Catering
Non-recoverable VAT|31/8/25
£
95,667
652,309
4,647
117,114
11,356
42,284
46,049
873,759
2,654
972,080
-
401,151
46,935
67,005
1,320
24,919
2,784
3,277
61,072
4,041
1,175
8,012
-
-
33,995
47,134
38,309
1,490
742,619|31/8/24
£
1,008
942,871
2,025
124,305
7,062
68,981
-| |---|---|---| |||1,145,244
16,756| |||1,163,008
17,348
493,580
47,511
97,348
7,050
11,422
8,665
5,668
24,485
8,857
675
12,487
1,346
2,845
19,966
65,432
43,488
-| |||850,825| ## **Support costs** This page does not form part of the statutory financial statements Page 21 **VITA ET PAX SCHOOL (COCKFOSTERS) LIMITED** ## **Detailed Statement of Financial Activities for the year ended 31st August 2025** |**Support costs**
**Management**
Support wages
Support social security
Support pensions
Premises costs
Freehold property
Fixtures and fittings
**Finance**
Bank charges
Other interest charges
**Governance costs**
Auditors' remuneration
Auditors' remuneration for non audit work
Professional and legal fees
Total resources expended
**Net expenditure**|31/8/25
£
233,833
9,387
10,536
288,887
77,366
1,981
621,990
2,561
890
3,451
6,369
12,000
79,724
98,093
1,466,153
(494,073)|31/8/24
£
136,804
10,737
17,334
299,471
77,366
-
541,712
1,693
-
1,693
7,277
6,000
65,445
78,722
1,490,300
(327,292)| |---|---|---| This page does not form part of the statutory financial statements Page 22